What can I do if Wells Fargo Financial won't release my cars title after I paid them?

[sdroger79]

I lost my job in December and became delinquent on making my car payments. I didn't want a repossession on my credit record so after being 3 months behind, I got the bank to agree to what they called a "negotiated lien release." Since I owed more on the car then I could sell it for the bank agreed to take a lesser amount if I could sell the car in order to avoid having to repossess the vehicle. I did find a buyer and sold the car for $7300 even though the loan payoff was around 10K. I was told to overnight a cashiers check to a supervisor in the repossessions department for $7939 (the amount we agreed upon), and they would send me the title so the new owner could register the car, etc.
I sent the check on May 15th and it cleared on the the May 22nd. Every time I call Wells Fargo they claim the title was sent out at the end of May, but I never got it. I went with the new owner to the DMV on Friday last week to just order a duplicate title so he could register the car. The DMV told me that Wells Fargo has not reported the lien satisfied and cannot help me until they do so. Every time I call the bank or the supervisor who I have been working with, they claim it is satisfied and will look into it and call me back (which of course never happens). The DMV did issue temporary tags to the new owner but they expire on July 21st.

What can do to resolve this? I have an obligation to the buyer to get them the title but I get the same story from the bank and am beginning to think I will never get this resolved. I can't even give the buyer his money back at this point because I used it to pay off the car and sent it to the bank. Additionally after reviewing my credit report this weekend Wells Fargo has reported my entire auto loan as a write off. I'm not sure if this is correct, and is potentially troubling to me. Any suggestions?

[Seeker]

I got the bank to agree to what they called a "negotiated lien release."

Did you get the above in writing?

If yes, then present that doc to your lawyer along with the copy of the cashed check.

If you have no writings to your agreement... I'm not sure what you can do.

[creditcardfree]

Do you have a local Wells Fargo location you can walk into?

I think you need to speak to someone in person, specifically a supervisor or manager. They need to get someone that handles liens on a conference call regarding this.

Good luck.

[disneysteve]

This is one of those "fell through the cracks" kind of stories. You seemingly did everything right. The bank says they've done everything right. But someone dropped the ball, and it wasn't you. They are the only ones that can solve this. If you can go in person, that would help. Bring documentation of everything. If you can't go in person, call and request a supervisor. Explain what happened and that you have verified with DMV that the lien has not been released. Tell them that you want it fixed immediately or you may be forced to take legal action. Do you have any friends or relatives who are attorneys. I've found that a letter from an attorney gets a lot of things accomplished.

[Seeker]

Maybe I'm reading a bit more into this....

Additionally after reviewing my credit report this weekend Wells Fargo has reported my entire auto loan as a write off. I'm not sure if this is correct, and is potentially troubling to me. Any suggestions?

The timeline is not clear.

Did Wells Fargo report your "entire auto loan as a write off" before or after you paid? This "this weekend" may have been when you got your credit report -- what is the actual date of the "write off"?

The facts are if you don't have documents, if your check was written and cleared without anything linking it to this loan (ie account number), then your only recourse is the bank and the honesty of the people involved.

Keep that copy of the cleared check in multiple places. You may end up needing it to counter the credit reporting agencies as well.

Without written documents, your only other recourse if the bank continues to give you the run-around, may be small claims court with your cleared check as evidence. The bank can counter with the fact that it's not payment in full, and it'd be up to a judge as to whom s/he believes.

Always get written documents when dollars are involved. Always.